The pound is strong against the euro and the dollar this morning, perhaps benefiting from a more positive outlook after the Bank of England’s monetary policy meeting last week. Next week, Brexit talks will resume between the EU and UK.
After starting Friday in a strong position against the euro and dollar on Friday, sterling weakened against the dollar throughout the course of the day. This was mainly due to tensions between the US and China, which fuelled the dollar in reclaiming its safe-haven status.
A series of data is coming up this week for the UK, US and EU. UK GDP data will be released Wednesday and is expected to show a large fall for the second quarter of this year.
There’s no telling where the pound will head over the next few days, so now would be a good opportunity to protect your transfers. Make sure you lock in your exchange rate with a forward contract today, so your money isn’t affected by uncertainty. Speak to your Personal Trader on 020 7898 0541 to get started.
